Startup Tvasta has raised Rs. 3 Crore from Habitat for Humanity International. The fresh investment will enable Tvasta Manufacturing Solutions to accelerate the supply of affordable 3D printed homes in India.
“Habitat for Humanity International through its Shelter Venture Fund invested Rs 30 million ($411,000) in Tvasta Manufacturing Solutions Ltd to increase production of affordable 3D printed homes in India,” a statement from Tvasta said.
Habitat’s investment in Tvasta builds on a multi-year collaboration, beginning when the company was one of seven startups to participate in Habitat’s ShelterTech India accelerator programme in 2018. ShelterTech accelerators bridge the gap between housing innovation and real-world impact.The construction of Tvasta’s first 3D printed home, completed in late-2020, generated less waste and was completed faster than traditional methods.
“The pandemic has only exacerbated the affordable housing crisis, with rising demand as well as material costs. Through the Shelter Venture Fund, Habitat is helping ensure that the most promising, disruptive technologies achieve scale, expanding affordable housing markets to reach more low-income families in need of reliable housing,” said Patrick Kelley, Vice President of Habitat’s Terwilliger Center for Innovation in Shelter.
Habitat’s Terwilliger Center for Innovation in Shelter launched the Shelter Venture Fund in 2017 to invest in shelter entrepreneurs operating in the pioneer gap where early-stage companies are often considered too new or too risky for conventional venture capital firms.
Shelter Venture Fund has so far invested a total of $3 million in 11 startups with disruptive and innovative products and services.
Established in 1976, Habitat for Humanity is a leading global non-profit working in more than 70 countries.
Since 1983, Habitat for Humanity has supported more than 37 million people in India by helping them build or improve a place they can call home, build improved sanitation units, and provide humanitarian aid and disaster-resilient shelter solutions in the aftermath of natural disasters, the statement said.
Hestia Partners and Capnetic Investments also invested in the construction technology startup.